Ethereum
Ethereum rose by 0.27% on Thursday. Following on from a 3.14% gain on Wednesday, Ethereum ended the day at $2,758.92.
A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,672.00 before making a move.
Steering clear of the first major support level at $2,614, Ethereum rallied to a mid-day intraday high and a new swing hi $2,800.00.
Falling short of the first major resistance level at $2,826, Ethereum fell back to sub-$2,700 levels and into the red.
Finding late support, Ethereum revisited $2,770 levels before easing back.
At the time of writing, Ethereum was down by 0.16% to $2,754.64. A mixed start to the day saw Ethereum rise to an early morning high $2,770.00 before falling to a low $2,753.84.
Ethereum left the major support and resistance levels untested early on.
For the day ahead
Ethereum would need to avoid the pivot level at $2,744 to support a run at the first major resistance level at $2,815.
Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s new swing hi $2,800.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a breakout, Ethereum could test resistance at $3,000. The second major resistance level sits at $2,872.
Failure to avoid the $2,744 pivot would bring the first major support level at $2,687 into play.
Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,600 levels. The second major support level at $2,616 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $2,687
Pivot Level: $2,744
First Major Resistance Level: $2,815
23.6% FIB Retracement Level: $2,158
38.2% FIB Retracement Level: $1,761
62% FIB Retracement Level: $1,119
Litecoin
Litecoin fell by 1.27% on Thursday. Following on from a 0.45% decline on Wednesday, Litecoin ended the day at $255.51.
A mixed start to the day saw Litecoin fall to a mid-morning low $250.51 before making a move,
Steering clear of the first major support level at $249, Litecoin rose to a mid-day intraday high $262.99.
While falling short of the first major resistance level at $268, Litecoin broke through the 23.6% FIB of $262 before hitting reverse.
The reversal saw Litecoin fall to a late intraday low $248.75. Finding support at the first major support level at $249, Litecoin moved back through to $255 levels to limit the loss.
At the time of writing, Litecoin was down by 0.32% to $254.69. mixed start to the day saw Litecoin rise to an early morning high $255.73 before falling to a low $254.69.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $256 pivot level to support a run at the 23.6% FIB of $262 and the first major resistance level at $263.
Support from the broader market would be needed, however, for Litecoin to break back through to $260 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $265 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $280. The second major resistance level sits at $270.
Failure to move through the $256 pivot level would bring the first majors support level at $249 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level at $242 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $249
Pivot Level: $256
First Major Resistance Level: $263
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP rose by 2.90% on Thursday. Partially reversing a 3.10% gain from Wednesday, Ripple’s XRP ended the day at $1.39984.
After a mixed start to the day, Ripple’s XRP fall to an early morning intraday low $1.32904 before making a move.
Steering clear of the first major support level at $1.2810, Ripple’s XRP rose to a late morning intraday high $1.41900.
Falling short of the first major resistance level at $1.4440, Ripple’s XRP fell back to sub-$1.35 levels and into the red.
Finding late support, however, Ripple’s XRP moved back through to $1.39 levels to deliver the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.67% to $1.39046. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.40363 before falling to a low $1.39046.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead
Ripple’s XRP will need to avoid a fall through the $1.3826 pivot level to bring the first major resistance level at $1.4362 into play.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $1.41900.
Barring an extended crypto rally, the first major resistance level and resistance at $1.45 would likely cap any upside.
In the event of an extended rally, Ripple’s XRP could test resistance at $1.50 before any pullback. The second major resistance level sits at $1.4726.
Failure to avoid a fall through the $1.3826 pivot would bring the first major support level at $1.3463 into play.
Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$1.30 levels. The second major support level sits at $1.2927.
Looking at the Technical Indicators
First Major Support Level: $1.3463
Pivot Level: $1.3826
First Major resistance Level: $1.4362
23.6% FIB Retracement Level: $1.5426
38.2% FIB Retracement Level: $1.2807
62% FIB Retracement Level: $0.8573
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Thanks, Bob
This article was originally posted on FX Empire